In the late 1800s, silver- dollars were offered as a currency and also they to be in broad circulation. One of such coins minted in 1879 is now a commodity that’s mainly sought ~ by the collector community. The coin isn’t that rare however it’s tho noticeable enough that it’s precious selling and that there will always be buyers because that it.
You are watching: Value of a 1879 silver dollar
The value of the dollar today relies on a variety of determinants including the fact that it’s make from silver, definition that that will always be precious at least its value in silver. It also depends top top supply and demand and also the condition of the coin.
History of the coin
The coin has actually a rich background because that came around due come the recently discovered silver mines that have produced a silver- rush in the 1850s. The sudden discovery of silver practically ended the yellow rush that was continue in California at the very same time.
In order to make use of the newly found silver, the federal government used a Bland-Alison Act, i beg your pardon mandates the government to purchase a big amount of silver- from the Comstock Lode mines and also use it to create silver currency.
The 1879 dollar chin was created by George T. Morgan a well known silver engraver that has actually a collection of coins named after him. Morgan emigrated to the us from Britain and was rental to design coins because that the federal government in 1876.
Mintmarks of 1879 dollar
The silver- dollar come in five mintmarks and also six variations. Each of the mints represents a different city. The initials that stand for these cities are minted below the bow ~ above the backside the the coin or under the tail that the eagle’s right.
These mintmarks now play a role in deciding the worth of the coin because they space not same rare and also the coins v the clues that are less commonly tend to it is in worth much more to the collectors.
The coins the were minted in Philadelphia mint have no marks whatsoever. The letter “CC” ~ above the ago of the coin room there to represent a Carson Mint. They space worth more. Those the are significant with the letter S are produced in san Francisco. The letter O represents brand-new Orleans mint, and the letter D point out Colorado.
The condition of the coin is one more important component of just how the value of it will certainly be determined. The collectors are usually in search of a coin that’s in an excellent condition meaning that all the features of the coins can be displayed and also noticeable. The coins that aren’t in good condition can also be sold, but they will largely be valued by the amount of silver supplied to do them.
There’s a grading system put in ar to define how well the coin is kept and also it too has actually a role in just how it will certainly be priced.
The coins are well-known as:Very fine if “two-thirds that Liberty’s hairlines from above her forehead her ear are visible.”Extremely fine when the hairline and ears of Lady Liberty watch strongMS 60 Uncirculated condition – that’s a coin that hasn’t been provided at all, but a couple of stains and blemishes space toleratedMS 65 Uncirculated problem – yes sir a solid eye appeal and a few light call marks space tolerated.PR 63 Proof problem – There room no flaws and also blemishes and the coin has a reflective surface
The coin that’s been circulated is valued at its price in silver. Together is the situation with any type of other precious metals the worth of silver fluctuates and when the coin is marketed it’s sold for the price of silver on the day when the coin is sold. At the time of this writing, silver- is precious $25.8 per ounce. That method that the coin will more than likely be worth about $20.
The silver- dollar that 1879 v no mint markings will be worth more and it deserve to go for around $32 if the in good condition. If it’ in incredibly fine problem it have the right to go for about $35. Ms grade uncirculated coin is worth around $70. Uncirculated coin in an ms 65 problem is worth around $450.
When it pertains to rarer coins that have actually mint markings the price will go up as well. The coin v a CC marking will it is in worth about $310 in fine condition. Once it’s in very fine condition the coin will be worth around $775. The coins the haven’t been circulated room worth lot more. If it wasn’t circulated and it has actually an ms 60 grade it have the right to be offered for $4.000. Uncirculated coin v the multiple sclerosis 65 grade is worth $42.500.
When it involves the coins that are marked with one O mintmark they are worth much less since they are an ext common and easier to find. In well condition, it’s worth about $42 for one silver- coin. In an extremely fine condition, it’s worth about $45. Ms 60 uncirculated silver dollar is precious $120. Ms 65 uncirculated disagreement is precious as much as $2450.
Silver dollars indigenous 1879 that are marked with an S have the right to be marketed for around $75 if that in very fine condition. If the coin is in the exceptionally fine condition it have the right to go for about $100. An uncirculated coin through an multiple sclerosis 60 great goes for $120 and an ms 65 have the right to go for $4500.
Proof coins can be marketed for about $3200 if yes no mintmark ~ above them. Over there are around 1100 of lock in circulation altogether.
How to manage 1879 coin
Since that a rather old silver coin and also its value depends on just how well maintained it is, it’s essential that girlfriend know how to take care of the coin in order to preserve and even if it’s feasible to increase its value. The an initial thing to understand is the the coin shouldn’t be cleaned since that’s the best way to prove that it’s old and that it’s been used.
If the coin wasn’t used prior to that too is remarkable in the condition and once again yes nothing to perform with it, in order to keep the pristine condition of the silver and also the coin. If the coin has been cleaned and its condition improved many collectors will simply pass on the purchase.
The coin should be taken on by the edges and also stored in a dry and also dark place. It’s best not to save it in a wooden box due to the fact that it will certainly eventually damage the silver- over time. It’s also useful to discover ways to save it dry and also there are clothes that do simply that and also in i beg your pardon you deserve to wrap it.
Which one come buy?
This is a difficult question to answer since it counts on a selection of factors. The collectors are in search of these dollars based on their rarity and also they would certainly look because that a dollar it is been minted in the smallest amount the copies. That way that it counts on which mint to be used. Collectors are likewise looking for a coin that’s kept as much as it can be.
See more: List Two Ways To Increase The Strength Of An Electromagnet S
If she purchasing these coins to resell them, it’s feasible to do a benefit from every one of them. The very same rule uses in regards to rarity, however it’s likewise useful come purchase ordinary coins placed in circulation since their value deserve to go up once the price of silver- does.